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REMIC stands for Real Estate Mortgage Investment Conduit. It represents a bond backed by a pool of mortgages. As the borrowers pay principal and interest, these funds are transferred to the REMIC holders.

REMICs are effectively a form of asset backed security.

Also Known As: CMO, Collateralized Mortgage Obligation, MBS, Mortgage Backed Security
This REMIC is backed by a pool of mortgages purchased from lending banks mationwide.
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